Market data
RIA market data by state: all wealth firms
As of October 2, 2026, wealth firms based in New York reported the most regulatory assets under management of any state, $5.9 trillion, and California had the most wealth firms, 3,331.
Showing all wealth firms, including wirehouses and broker-dealer firms. Independent RIAs only
Every state compared
| State | Firms | RAUM | RAUM growth, 1 year | Independent share | Median firm RAUM |
|---|---|---|---|---|---|
| New York | 1,465 | $5.9 trillion | 18.8% | 14.4% | $71.7 million |
| Missouri | 346 | $2.6 trillion | 22.9% | 15.4% | $90.3 million |
| California | 3,331 | $1.7 trillion | 20.1% | 92.6% | $59.6 million |
| Florida | 1,802 | $1.5 trillion | 21.7% | 35.0% | $58.0 million |
| New Jersey | 728 | $1.3 trillion | 13.1% | 24.8% | $66.7 million |
| Illinois | 885 | $1.1 trillion | 18.7% | 58.7% | $84.1 million |
| Texas | 1,855 | $1.0 trillion | 18.1% | 79.5% | $57.1 million |
| Minnesota | 410 | $974.5 billion | 14.2% | 26.8% | $100.2 million |
| South Carolina | 290 | $905.0 billion | 32.3% | 6.5% | $46.7 million |
| Pennsylvania | 939 | $895.2 billion | 16.0% | 38.2% | $85.3 million |
| Massachusetts | 801 | $768.2 billion | 16.1% | 52.9% | $80.1 million |
| Kansas | 235 | $559.6 billion | 28.9% | 96.9% | $75.2 million |
| Ohio | 865 | $461.2 billion | 26.4% | 81.1% | $84.1 million |
| Colorado | 760 | $435.1 billion | 24.4% | 96.5% | $65.4 million |
| Georgia | 707 | $393.4 billion | 29.4% | 60.1% | $52.3 million |
| Arizona | 620 | $365.3 billion | 19.9% | 30.7% | $51.0 million |
| Iowa | 167 | $238.0 billion | 31.5% | 14.1% | $140.1 million |
| North Carolina | 633 | $228.5 billion | 28.0% | 58.8% | $63.0 million |
| Michigan | 664 | $219.4 billion | 19.1% | 86.6% | $73.1 million |
| Connecticut | 424 | $216.0 billion | 60.5% | 75.8% | $65.6 million |
| Washington | 601 | $206.8 billion | 20.3% | 98.9% | $71.0 million |
| Virginia | 659 | $204.7 billion | 16.3% | 78.1% | $64.7 million |
| Maryland | 447 | $152.7 billion | 8.6% | 75.3% | $75.3 million |
| Tennessee | 372 | $145.6 billion | 23.5% | 71.7% | $84.7 million |
| Indiana | 370 | $136.5 billion | -5.6% | 92.5% | $68.7 million |
| Wisconsin | 326 | $115.1 billion | 18.8% | 81.7% | $107.1 million |
| Nebraska | 120 | $111.9 billion | 23.2% | 87.3% | $113.4 million |
| Alabama | 159 | $106.6 billion | 37.6% | 88.5% | $58.4 million |
| Oregon | 340 | $103.9 billion | 14.7% | 96.8% | $75.4 million |
| Utah | 272 | $81.4 billion | 31.7% | 85.0% | $76.6 million |
| Louisiana | 168 | $78.7 billion | 41.1% | 44.1% | $72.8 million |
| Montana | 80 | $53.2 billion | 20.3% | 20.5% | $35.2 million |
| Arkansas | 123 | $49.7 billion | 18.8% | 55.8% | $68.5 million |
| Nevada | 206 | $49.4 billion | 35.9% | 78.2% | $61.2 million |
| Kentucky | 152 | $48.0 billion | 40.7% | 94.7% | $89.9 million |
| Idaho | 151 | $41.7 billion | 39.6% | 97.6% | $55.6 million |
| Rhode Island | 78 | $34.7 billion | 19.7% | 59.1% | $130.3 million |
| New Hampshire | 203 | $32.9 billion | 24.6% | 98.5% | $77.6 million |
| Oklahoma | 171 | $31.8 billion | -21.3% | 91.8% | $66.1 million |
| Maine | 86 | $30.1 billion | 16.0% | 99.3% | $57.8 million |
| Vermont | 61 | $20.9 billion | 16.1% | 85.3% | $120.5 million |
| Mississippi | 60 | $15.3 billion | 21.3% | 97.7% | $125.5 million |
| District of Columbia | 43 | $14.8 billion | 22.2% | 51.9% | $66.2 million |
| Delaware | 61 | $11.7 billion | -40.8% | 95.5% | $79.7 million |
| West Virginia | 33 | $8.1 billion | 1.1% | 78.3% | $34.9 million |
| Wyoming | 51 | $6.7 billion | 89.7% | 99.3% | $40.6 million |
| New Mexico | 66 | $6.4 billion | 4.4% | 100.0% | $36.7 million |
| Hawaii | 58 | $5.6 billion | 15.4% | 100.0% | $32.7 million |
| South Dakota | 42 | $5.0 billion | 29.9% | 100.0% | $41.7 million |
| Puerto Rico | 38 | $4.6 billion | 104.4% | 100.0% | $59.0 million |
| North Dakota | 30 | $3.1 billion | 24.3% | 98.0% | $66.5 million |
| Alaska | 23 | $2.3 billion | -10.7% | 100.0% | $29.2 million |
| U.S. Virgin Islands | 7 | $98.0 million | No data | 100.0% | $9.0 million |
| Guam | 0 | No data | No data | No data | No data |
As of October 2, 2026. Wealth management firms, broker-dealer affiliated firms included, placed in the state of their main office. Growth: SEC-registered wealth firms, including broker-dealer firms' assets, September 2, 2025 to October 2, 2026. Independent share: independent RIAs' part of the regulatory assets of every wealth firm based in the state, broker-dealer affiliated firms included.
Regulatory assets by state
| Measure | Bar | RAUM |
|---|---|---|
| New York | $5.9 trillion | |
| Missouri | $2.6 trillion | |
| California | $1.7 trillion | |
| Florida | $1.5 trillion | |
| New Jersey | $1.3 trillion | |
| Illinois | $1.1 trillion | |
| Texas | $1.0 trillion | |
| Minnesota | $974.5 billion | |
| South Carolina | $905.0 billion | |
| Pennsylvania | $895.2 billion | |
| Massachusetts | $768.2 billion | |
| Kansas | $559.6 billion | |
| Ohio | $461.2 billion | |
| Colorado | $435.1 billion | |
| Georgia | $393.4 billion | |
| Arizona | $365.3 billion | |
| Iowa | $238.0 billion | |
| North Carolina | $228.5 billion | |
| Michigan | $219.4 billion | |
| Connecticut | $216.0 billion | |
| Washington | $206.8 billion | |
| Virginia | $204.7 billion | |
| Maryland | $152.7 billion | |
| Tennessee | $145.6 billion | |
| Indiana | $136.5 billion | |
| Wisconsin | $115.1 billion | |
| Nebraska | $111.9 billion | |
| Alabama | $106.6 billion | |
| Oregon | $103.9 billion | |
| Utah | $81.4 billion | |
| Louisiana | $78.7 billion | |
| Montana | $53.2 billion | |
| Arkansas | $49.7 billion | |
| Nevada | $49.4 billion | |
| Kentucky | $48.0 billion | |
| Idaho | $41.7 billion | |
| Rhode Island | $34.7 billion | |
| New Hampshire | $32.9 billion | |
| Oklahoma | $31.8 billion | |
| Maine | $30.1 billion | |
| Vermont | $20.9 billion | |
| Mississippi | $15.3 billion | |
| District of Columbia | $14.8 billion | |
| Delaware | $11.7 billion | |
| West Virginia | $8.1 billion | |
| Wyoming | $6.7 billion | |
| New Mexico | $6.4 billion | |
| Hawaii | $5.6 billion | |
| South Dakota | $5.0 billion | |
| Puerto Rico | $4.6 billion | |
| North Dakota | $3.1 billion | |
| Alaska | $2.3 billion | |
| U.S. Virgin Islands | $98.0 million |
Data as of October 2, 2026, from Form ADV. Sources: SEC registered adviser data (ia100226.zip) and IAPD compilation reports. How the directory is built.